739 Perpetual debentures
Companies Act 2006 | Legislation

739  Perpetual debentures

(1)     A condition contained in debentures, or in a deed for securing debentures, is not invalid by reason only that the debentures are made—

(a)     irredeemable, or

(b)     redeemable only—

(i)     on the happening of a contingency (however remote), or

(ii)     on the expiration of a period (however long),

any rule of equity to the contrary notwithstanding.

(2)     Subsection (1) applies to debentures whenever issued and to deeds whenever executed.

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